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A company I used to work for was recently acquired because they were supposedly working on some kind of block chain technology. After the acquisition, all ‘work
by SenHeng 7y ago
A company I used to work for was recently acquired because they were supposedly working on some kind of block chain technology. After the acquisition, all ‘work’ on the block chain was stopped and everyone reassigned to other, more mundane projects. Word is, the ex-CEO somehow sweet talked the acquirers with some fancy PowerPoint slides. He spends most of his time coming up with these proposals and shops them around to unsuspecting VCs and acquirers. Took him a few years but seems like he finally got one to bite.
I suspect many smaller tech firms are similar.
- jmspring 7y agoDid this individual used to work in the identity space? Canadian?
- eberkund 7y agoI interviewed with a company that matches this description, I remember thinking their product sounded pretty silly.
- specialist 7y agoA buddy works for a permanent startup. Has never shown a profit. He's convinced it's a money laundering operation. He likes the work, so he doesn't ask too many questions.
- deleted 7y ago[deleted]